We are alarmed that Republicans refuse to slam the door on rumors of a millionaire surtax in their tax plan. The official line now seems to be that “everything is on the table”:
This is the GOP’s tax day message?
We remind elected Republicans in the House and Senate that the vast majority signed a written promise to voters never to raise tax rates. We provide the full lists of pledge takers courtesy of ATR, in case some of them forgot:
It’s also miserable economics, as your Unleash Prosperity Now (UP’s 501 (c)(4) affiliate) co-founders wrote in a letter yesterday to President Trump, Speaker Mike Johnson, and Senate Majority Leader John Thune:
Raising the top income tax rate now would send the wrong message to job creators, small business owners, and investors–most of whom file as pass-through entities and would be directly impacted. Penalizing this country’s very engine of job creation would be an economic misstep with far-reaching consequences…
We urge you to stay true to the Republican Party’s long-held commitment to low taxes and a vibrant free market economy. Rather than backpedaling on these core principles, now is the time to double down on policies that promote growth, competition, and entrepreneurial dynamism.
And what is the point of raising the top tax rate when the Trump tax cut (which lowered the rate to 37%) led to the rich paying more of the tax burden?
This is a weird form of GOP virtue signaling that will weaken the American economy. We thought only the Left did that.